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#2139218 - 07/24/17 03:23 PM Sales disclosure
kelso Offline
Member
Joined: Mar 2010
Posts: 75
Indiana
We have switched to use Encompass and it is telling us that the sales disclosure is a zero tolerance item. Do you have anything I can point to a regulation or through State Code that specifically states and supports that the Sales Disclosure is NOT a zero tolerance but rather a 10% fee?

thanks,

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#2142033 - 08/15/17 02:14 PM Re: Sales disclosure kelso
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
The sales disclosure is required to be filed and recorded with the transfer of property. Its fee is included with the recording fees. We use Encompass and it does not treat the sales disclosure fee as a 0 tolerance item. You may want to check your fee set up parameters to be sure you have it properly identified.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2185213 - 07/12/18 08:51 PM Re: Sales disclosure Dan Persfull
Cbigun Offline
100 Club
Joined: May 2016
Posts: 158
Is this disclosed in the Taxes and Gov Fees section? So you have $95.00 on line E. Then Recording fees Deed: $25 Mortgage $55 that only total $80 but the total in that box is $95 and nowhere does it say the other $15 is for a sales disclosure fee?

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#2185426 - 07/16/18 01:40 PM Re: Sales disclosure kelso
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
Check your fee set-up.

The Sales Disclosure fee is disclose on line 02 payable to the applicable county auditor under Section E.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2185695 - 07/17/18 06:08 PM Re: Sales disclosure kelso
Cbigun Offline
100 Club
Joined: May 2016
Posts: 158
Thank you

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#2209047 - 03/19/19 08:07 PM Re: Sales disclosure kelso
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
The Sales Disclosure fee now needs to be lumped with the recording fees. Encompass automatically made this change to include it in the recording fees. We didn't have to do anything to our set-up other than find out why it started being lumped in the recording fee on Line 01 in Section E.

From 1026.37(g)

2. Other government charges. Any charges or fees imposed by a State or local government that are not transfer taxes are aggregated with recording fees and disclosed under ยง 1026.37(g)(1)(i).
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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